Let's Talk Business-The Importance of a Business Plan

Whether you're a budding entrepreneur or want to grow your business, this series presents essential business topics, provides a forum for networking, and promotes success in today’s dynamic business environment. Participants may attend one, two, six, or all sessions. Session 2 – The Importance of a Business Plan A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business. Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. This session presented by UTRGV Small Business Development Center and will provide information on the power of business planning and why it’s important to prepare a business plan. A sound business plan will: * Define and focus on your business objective * Be an essential part of the loan application process * Be used to obtain advice from experts * Uncover omissions and/or weaknesses in the business idea & planning process * The key components of a business plan